ABSTRACT
The Paris Conference cannot hope to do more than agree upon the main principles and recognise that all the Allies shall have the first claim upon each other's resources in natural produce, metals, capital, and means of transport. Public opinion in England was now including in the direction of the principle of preferential tariff rates. The application of preferential tariffs between Great Britain and her colonies would therefore greatly embarrass Japan. It would at any rate precipitate to decide a post bellum trade and tariff policy without considering the effect of the exclusion of Germany upon one's own country's economical position. Most of the economic programme of the Allies outlined in the Paris Resolutions were carried out by domestic legislation and inter-Ally agreements, and required no definite stipulations in the Treaty of Peace.
